The 2-way diesel particulate filter/selective catalytic reduction (DPF/SCR) emission reduction system has been considered as a potential candidate for future emission standards owing to its advantages in cost savings and packaging flexibility. For the 2-way device, Cu-zeolite is coated inside the DPF substrate as nitrogen oxide (NOx) reducing (DeNO(x)) catalytic material. Therefore, when exhaust gas passes through the 2-way device, NOx reduction and soot filtration occur simultaneously. However, the operating characteristics of the combinatorial device might be different from individual DPF and SCR devices. In this work, a previously developed model was improved to include soot filtration and oxidation. The model has been tested and validated with experimental data from a reactor flow bench in a systematic manner and applied to capture the effect of soot deposits on NOx reduction performance in a 2-way DPF/SCR device. Accordingly, the soot oxidation characteristics of a 2-way device are investigated with various feed gas compositions. Then the effect of soot deposit on the SCR reaction is investigated in terms of deterioration of DeNO(x) performance and the interaction between soot oxidation reactions and DeNO(x) SCR reactions.